Kerjaya Prospek raises stake in ES Sunlogy to 31 per cent

Kerjaya Prospek Group Bhd has increased its ownership in ES Sunlogy Bhd to a 31 per cent stake from 28.27 per cent after purchasing an additional 21 million shares. This investment amounted to RM5.36 million and was facilitated by Acumen Marketing Sdn Bhd acquiring shares from four existing ES Sunlogy shareholders. The acquisition price was 36.15 per cent below ES Sunlogy's closing market price of 40 sen on August 14, a 14.46 sen discount.

Acumen had previously acquired 147.7 million ES Sunlogy shares, raising its stake to 28.27 per cent. Kerjaya Prospek's stake is expected to not exceed 33 per cent due to takeover rules. The company is not aware of the vendors being directors or major shareholders. ES Sunlogy's executive director, Chu Kerd Yee, holds a 20.9 per cent share, while managing director Khor Chuan Meng owns 14.8 per cent.

Experts believe this investment may enable Kerjaya Prospek to expand into specialized engineering and renewable energy sectors. ES Sunlogy primarily offers mechanical and electrical engineering services for electricity distribution systems and buildings, with a significant focus on renewable energy. RHB Research anticipates significant influence and profit recognition by Kerjaya Prospek, estimating RM1.5 million for the rest of 2025, RM5 million in 2027, and RM6 million in 2028.

The firm has raised Kerjaya Prospek's earnings estimates by one percent for FY26 and two percent for FY27 and FY28. The research firm maintains a Buy rating on Kerjaya Prospek with a target price of RM3.41, implying a 25 per cent upside and an estimated five percent return in FY27.